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Market
Oil executives' response to Senate's investigation push
5
Resolution / Starting Odds
Deny allegations • 33%
Admit to some wrongdoing • 33%
Remain silent • 34%
Official statements from major oil companies
Story
Schumer and Senate Democrats Urge DOJ to Investigate Oil Industry Collusion with OPEC and Price-Fixing
May 30, 2024, 01:30 PM
Senate Democrats, led by Majority Leader Chuck Schumer, are urging the U.S. Department of Justice to investigate major oil companies and their trade groups for alleged collusion and price-fixing. This call for action follows a congressional probe that concluded the industry had spent decades deceiving the public about climate change. Schumer, along with 22 other Democratic Senators, emphasized the need for the DOJ to scrutinize claims that oil executives colluded with OPEC. The push for an investigation aims to address long-standing concerns about the oil industry's practices and their impact on prices and climate misinformation. The request also includes investigating an FTC claim regarding collusion.
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Deny any wrongdoing • 25%
Admit partial wrongdoing • 25%
Settle without admission of wrongdoing • 25%
No response • 25%
Full cooperation • 25%
Partial cooperation • 25%
Non-cooperation • 25%
Legal challenge against the inquiry • 25%
Public denial from all companies • 25%
Public denial from some companies • 25%
Admission from some companies • 25%
No public response • 25%
Deny involvement • 33%
Admit minor involvement • 33%
Admit significant involvement • 34%
Increase in scrutiny and due diligence • 33%
Decrease in carbon credits purchase • 33%
No significant change in behavior • 34%
No indictments • 33%
Indictments of lower-level executives • 34%
Indictments of high-profile figures • 33%
Mostly legitimate • 25%
Mostly illegitimate • 25%
Divided opinion • 25%
Indifferent • 25%
No evidence found • 33%
Evidence of price fixing found • 33%
Inconclusive results • 34%
Increase in sustainability initiatives • 33%
No significant change in operations • 33%
Increase in lobbying activities • 34%
